Top Day Market News
7.11.12
Overnight, Spain announces new austerity measures but Euro stocks are flat. Europe needs growth, not austerity. These economies need to reflate not contract to the point of implosion. Crude inventories are back on line at 10:30. The big development in crude was the resolution of the Norwegian strike and the return of Japan to the use of a nuclear reactor. Both events result in the return of supply of oil into the market.
Yesterday was a dismal session for equities. The bulls’ hopes today rest on the release of the Federal Open Market Committee meeting notes at 2pm. Traders will be looking for intimations of further easing by the Fed.
|
Week of July 09 - July 13 |
||||||||
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Jul 09 |
15:00 |
May |
|
$10.0B |
$9.5B |
$6.5B |
|
|
|
Jul 11 |
07:00 |
MBA Mortgage Index |
07/07 |
|
NA |
NA |
-6.7% |
|
|
Jul 11 |
08:30 |
|
May |
|
-$50.6B |
-$48.9B |
- $50.1B |
|
|
Jul 11 |
10:00 |
May |
|
0.2% |
0.3% |
0.6% |
|
|
|
Jul 11 |
10:30 |
Crude Inventories |
07/07 |
|
NA |
NA |
- 4.270M |
|
|
Jul 11 |
14:00 |
FOMC Minutes |
6/20 |
|
|
|
|
|
|
Jul 12 |
08:30 |
07/07 |
|
360K |
375K |
374K |
|
|
|
Jul 12 |
08:30 |
06/30 |
|
3300K |
3300K |
3306K |
|
|
|
Jul 12 |
08:30 |
Jun |
|
NA |
NA |
-0.5% |
|
|
|
Jul 12 |
08:30 |
Jun |
|
NA |
NA |
-0.1% |
|
|
|
Jul 12 |
14:00 |
Jun |
|
NA |
NA |
- |
|
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
|
|
|
|
|
|
$43.1B |
|
|
Jul 13 |
08:30 |
Jun |
|
-0.8% |
-0.6% |
-1.0% |
|
|
|
Jul 13 |
08:30 |
Jun |
|
0.2% |
0.2% |
0.2% |
|
|
|
Jul 13 |
09:55 |
Jul |
|
72.0 |
73.5 |
73.2 |
|
MARKET PLACE
Numbers are good up until the close of business today. These are strictly technical in nature, not fundamentally based or biased.
Legend
U is Up
D is Down
PRD is Potential Reversal Day S2 is Weekly strong support S1 is Weekly good support
DS is Daily Support
DR is Daily Resistance
R1 is Weekly Good Resistance and is calculated once a week on
Sunday night
R2 is Weekly Strong Resistance and is calculated once a week on
Sunday night
Levels are for the most active futures contract
Daily Support and Resistance
|
|
Trend |
WS2 |
WS1 |
DS |
DR |
WR1 |
WR2 |
|
Sept ES |
U |
1323.50 |
1337.50 |
1315 |
1351 |
1370.5 0 |
1389.00 |
|
Sept Nasdaq |
U |
2553.00 |
2561 |
2534 |
2612 |
2646 |
2683 |
|
Sept Yen |
PRD(U) |
124.28 |
124.97 |
125.72 |
126.65 |
126.29 |
126.92 |
|
Sept EC |
D |
120.01 |
121.42 |
121.85 |
123.23 |
125.53 |
128.23 |
|
Sept 10 Year |
U |
132.28 |
133.20 |
134.13 |
134.26 |
134.24 |
135.04 |
|
Sept 30 Year |
U |
147.00 |
148.14 |
150.15 |
151.08 |
150.22 |
151.16 |
|
Nov Soybeans |
D |
14.45 |
15.06 |
15.17 |
15.66 |
16.06 |
16.46 |
|
Sept Corn |
U |
6.10 |
6.52 |
7.10 |
7.42 |
7.25 |
7.56 |
|
Aug Gold |
D |
1545.70 |
1564.30 |
1545 |
1599 |
1613.6 0 |
1644.30 |
|
Sept Silver |
D |
25.92 |
26.48 |
26.53 |
27.40 |
25.02 |
29.00 |
|
Sept Copper |
D |
330 |
336 |
337 |
343 |
351 |
360 |
|
Aug Crude |
U |
78.18 |
81.15 |
83.05 |
86.80 |
88.03 |
91.94 |
|
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N.B.: if you initiate a trade using ANY of these numbers use a STOP at least equivalent to 2 ½%. Repeat: use Stops. Don’t think about using Stops. Use Stops. Some find it appropriate to look at the margin requirement and use that as a Stop or if it’s a steep initial requirement, use half. But whatever you do, stop thinking about any other alternative and use Stops.
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, AL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETIOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM
IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
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Futures trading entails considerable risk and is not for everyone. An account can lose more than its initial investment.
Stops are not necessarily filled at the stop level. Past performance is not a guarantee of future results.
Charles Kespert
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